DOC 2 INFORMATION PACK. 25 July Integrated Property Development Project

Transcription

1 DOC 2 INFORMATION PACK 25 July 2012 Integrated Property Development Project

2 < Vers Ebene < Vers Valentina / Phoenix Autoroute Ebene, Trianon - Verdun, Terre Rouge Aurea - Bois de Natte Aurea - Bois d Ebene - SOLD OUT Aurea - Bois de Chandelle - SOLD OUT Aurea - Light Industrial Aurea - Duplexes Aurea - Apartments Commercial and Leisure - Phase III COMING SOON - Phase III COMING SOON - Phase III COMING SOON Route Côte d Or B48 Vers Helvetia >

3 TABLE OF CONTENTS Part I 1.0 Background of SIT Property Development Ltd (SPDL) Procedures for Application for Reservation of Plot(s) Expertise & Know How of SPDL in Property Development Application for Plot(s) in Aurea - Bois de Natte & Light Industrial by The Site and Its Natural Characteristics 3 OC Holders and Non OC Holders 2.1 Location Ranking of Applications Site Natural Wonderful Features Use of Option Certificate The Conceptual Development Completion of Sale Conception of Aurea - Living Harmony Other Terms and Conditions Development Philosophy Delays in Payment - Cancellation Policy and Interest Implication Roads Networks and Road Infrastructure Application for Reservation of Plot(s) and Documents to be Produced Pedestrian and Cycle Track Land Use Components 11 Part II Phase II of Aurea - Living Harmony Guidelines Cahier des Charges The Residential Development Walls and Security Control Light Industrial Cahier des Charges for Aurea- Bois de Natte Phase III of Aurea - Living Harmony Planning Controls The Residential Development Architectural Controls Convenient Commercial / Leisure / Restaurant Landscaping Controls 52 Component Infrastructure Controls Educational Component Recreational Component and Public Space Areas Disclaimer Gateways Urban Vistas 17 Part III - Price List Urban Square Maurice Ile Durable / Sustainable Vision 19 Part IV - EIA Licence & Letter of Intent Energy & Resource Efficiency Underground Utility Services 5.0 Pricing Rationale and Payment Schedule Part I 5.1 Payment Terms Financing Facilities 24

4 1.0 BACKGROUND OF SIT PROPERTY DEVELOPMENT LTD (SPDL) 1.1 EXPERTISE & KNOW HOW OF SPDL IN PROPERTY DEVELOPMENT Ground Floor, NG Tower, Cybercity, Ebene, Mauritius Tel : , Fax : s: sitrust@intnet.mu info@aurea.mu Websites: SIT Property Development Ltd (SPDL), a subsidiary and property development arm of the Sugar Investment Trust (SIT), was incorporated in November 2001 with the objective of acquiring and developing property. Since its incorporation, SPDL has successfully undertaken and completed the following four major residential morcellements: Project Location Year No of Plots Extent (Arpents) Les Residences Pinewood Gardens Wooton, Curepipe Residences Les Palmiers Union Vale, Trois Boutiques Les Residences Union Park Union Park Residences Rose Belle Rose Belle Aurea - Living Harmony Phase I Côte d Or Total The company is now undertaking Phase II of AUREA - Living Harmony integrated property development project at Cote D Or Highlands over an extent of 259 arpents which is strategically located at the centre of the island and well connected with roads and the forthcoming Terre Rouge- Verdun- Trianon highway where construction works have already started and which is projected to be completed by November In the first phase of the development 442 serviced plots comprising of 345 plots in Aurea Bois d Ebene (nongated), 21 plots in Aurea Bois de Chandelle (non-gated) and 70 plots in Aurea Bois de Chandelle (gated), and 5 light industrial plots were offered for reservation. The exercise was very successful and all residential plots have been reserved. Since 2002, SPDL has completed several residential morcellement projects successfully whereby the company has conceptualized, planned, successfully marketed and implemented and transferred some 3,060 agricultural plots and 2,160 residential plots to individual buyers. The Company is very well established and enjoys an excellent track record in the local property market and we are recognized for the following deliverables: Credibility, Integrity, Reliability and Professionalism. Best team of professional consultants and contractors of high repute to ensure quality on time at the best value. Good working relationship and respect of all stakeholders. Adherence to a strict time schedule for the implementation of projects and transfer of land through title deeds to clients. Excellent customer relationship. No Estate Agency fees or commission on sale (buying directly from SIT or its subsidiaries). Land survey is carried out by a professional in-house team of land surveyors and offered free of charge to clients. Practice of a fixed price policy (within period starting from 30 th July 2012 up to 28 th September 2012) and payment structure upon reservation of plots. Excellent working relationship with Banks, Financing institutions and Notaries to facilitate clients, right from the reservation of plots to finalisation of sales and signature of deeds of sale. 1 2

5 Ripailles Belle Etoile A1 Le Pouce Mountain B THE SITE AND ITS NATURAL CHARACTERISTICS es es Quatre Bornes Beau-Bassin Rose-Hill A11 Victoria Hospital < Port Louis A1 Ebene A8 B1 Moka MGI Bagatelle Mall Jumbo UOM M2 Vacoas Phoenix M2 Trianon Shopping Park B86 Les Allées d Helvétia A10 A7 Apollo Bramwell Hospital B86 Highlands M2 Circonstance A7 B48 Côte d Or Road Belle Terre B71 Eau Coulée A10 Saint Pierre SITE B48 B48 Côte d Or Road Airport > L Avenir Verdun Dagotiere Hermitage B6 Belle Rive B52 Terre Rouge > Valetta A7 B LOCATION St Julien The project extends over an area of 259 Arpents and is strategically located in the centre of the d Hotman island. The site is located within an emerging growth area as identified in the National Development Esperance Strategy (NDS) focusing on the future development cluster of the Urban & Knowledge Hub. The peaceful and pleasing setting of the site and its advantageous/strategic location in the central part of Mauritius will make the live, work and play philosophy a reality. This part of the island is Quartier A7 becoming Militairemore and more Providence popular with the real estate development boom in the vicinity as well as the close proximity to major towns such as Phoenix, Curepipe, Quatres Bornes, Beau Bassin/ Rose Hill and Port Louis, offering a wide range of economic, social, educational and shopping facilities combined with easy connection in and around the region. SPDL s development at Cote d Or / Highlands B27 will offer an undeniable appeal to one and all as a Piton du Milieu Dubreuil Both and Le Pouce Mountains) and Trou aux Cerfs areas. B108 Melrose Moreover, the growth of businesses in the ICT and Financial sectors and business schools in the Ebene, Cybercity has increased the demand for residential property in the neighbourhood. quality living destination. The site enjoys good climatic conditions prevailing in this area of the island almost all round the year. Additionally, the site offers excellent panoramic/scenic views on the Moka Range (Pieter 2.2. SITE NATURAL WONDERFUL FEATURES A natural flora stretches over 20 metres on each side of River Terre Rouge over a total length of 1.8 km. This strip is covered with pine and endemic trees such as Bois de Natte, Bois d Olive and Bois Fier. SPDL will enhance the whole stretch with some additional 8,000 endemic trees and this will be done within a protocol established with the Government Forestry Services. The borders and bed of Rivulet Francois will also be rehabilitated to reinstate its character especially where it crosses the central green corridor leading to the Urban Square and ending into the Urban Park along River Terre Rouge. The site slopes gently from the eastern boundary towards River Terre Rouge thus providing a natural drainage which will be enhanced further with the sophisticated and modern drainage network that will be developed. Floreal Curepipe B52 3 Midlands Midlands Dam 4

6 Key: AP - Apartment DP - Duplex COM - Commercial zone GS - Green Space URB PK - Urban Park URB PK - Urban Park URB SQ - Urban Square CPA - Children Play Area HC - Health Centre NFS- Not for Sale Aurea - Bois de Natte Aurea - Bois d Ebene - SOLD OUT Aurea - Bois de Chandelle - SOLD OUT Aurea - Light Industrial Aurea - Duplexes - Phase III COMING SOON Aurea - Apartments - Phase III COMING SOON Commercial and Leisure - Phase III COMING SOON 3.0 THE CONCEPTUAL DEVELOPMENT 3.1 CONCEPTION OF AUREA - LIVING HARMONY Aurea has been conceived as a predominantly residential community with high quality neighbourhoods, facilities, and amenities within an ecological, harmonious and serene sanctuary. The development has been designed to be safe, aesthetically appealing, and a family oriented community with excellent social, recreational and cultural opportunities. The primary intention is to promote a successful and diverse residential community/social integration philosophy in harmony with environmental stewardship and community building and participation. The development MASTERPLAN is comprised of a network of distinctive neighbourhoods anchored by a light commercial and leisure core. Each neighbourhood is defined by distinguishable places, function, character, and activity. The physical nature and architectural character of each neighbourhood shall be unique and identifiable. 5 6

7 3.2 DEVELOPMENT PHILOSOPHY The development has been well-planned to create a harmonious neighbourhood pattern to take care of the following salient features: Encourage compact development to conserve land on project site and create opportunities for more lush greenery on unbuilt areas Build sidewalks/cycle tracks/pavements to encourage walking and cycling in the community Provide green space in the form of parks including children s play areas Build good road connectivity to reduce travel time in vehicles Encourage carpooling to reduce the number of cars on the road and build special carpool parking spots Build a bus route throughout the development to allow community members to reach the regional transit system Build parking spaces on the side or rear of building to allow the front of the building to be free of any surface parking lots. Encourage public transport usage During the construction of the dwellings, owners will be encouraged: to create an internal outdoor living courtyard to maximise the promotion of cross-ventilation across the dwelling unit while creating a central social space to add to their sensory qualities, the use of landscaping and water bodies to enhance the character of natural environment. 3.3 ROADS NETWORKS AND ROAD INFRASTRUCTURE The site enjoys a very remarkable connectivity to the national road infrastructure. On the eastern side, it lies along the Cote d Or Road which links to Helvetia, Saint Pierre and Belle Rive on the Wooton- Quartier Militaire Road. On the Northern side the new road will connect the site to the Trianon-Verdun-Terre Rouge Link Road (motorway) through a roundabout on the Aurea site thus giving access to the North up to Grand Baie and to the Port Louis- Phoenix- Plaine Magnien Motorway M1 through Trianon & Valentina. On the Western side the existing road adjacent to the site links to Highlands and to the Port Louis- Phoenix- Plaine Magnien Motorway M1. Roads serving and within the residential areas have been planned on a hierarchical system with road widths of: 7.0 metres metres road reserves on both sides (distributor or perimeter roads onto which no individual access into plots would be allowed) 6.0 metres metres road reserves on both sides, and 5.5 metres metres road reserves on both sides where less than 20 plots are served. The whole development is also linked to the existing public transport facilities which would greatly reduce the need for on-site parking. A bus route has been designed to connect the development to the existing bus network through the major accesses. The route includes bus laybys at convenient locations within the development and a mini bus terminus for stoppages. Traffic calming measures in major accesses and near roundabouts have been provided to facilitate safe use by pedestrians, cyclists and other road users. 7 8

8 3.4 PEDESTRIAN AND CYCLE TRACK The environment has been laid out to be both safe and pleasant. Typically, pedestrian footways are 1.8 metres wide and are separated from the road by a lush strip of green planting of 1.65 metres in width along all 7.0 metres roads and 1.0 metre planting along 6.0 metres roads. A further strip of planting ranging from 0.5 metre to 1.0 metre demarks boundary walls from the pedestrian footways. A 2.5 metres wide cycle track which forms a loop of 1.2 km around the Urban Centre of the development has been provided. Within the commercial and leisure centre covered pedestrian walkways are encouraged to offer enhanced pedestrian movement with comfortable and convenient shopping and leisure opportunities. 9 10

9 3.5 LAND USE COMPONENTS Aurea-Living Harmony comprises of 3 distinct residential neighbourhoods. These are termed as Aurea - Bois d Ebene in the East (345 plots non-gated), Aurea - Bois de Chandelle in the West (70 plots gated, 21 plots non-gated) and Aurea - Bois de Natte in the North. Aurea - Bois d Ebene and Aurea - Bois de Chandelle have been reserved at 100% in Phase I of the development : Aurea - Bois de Natte is currently being offered in Phase II of Aurea - Living Harmony. The other components of the development include blocks for apartments and duplexes, a block for commercial and leisure facilities, and plots for light industrial, recreational and educational activities. The company is currently finalising the layout for the commercial and leisure component. The masterplan makes provision for various land use components with a view to achieving a vibrant and sustainable mixed use property development, in accordance with urban planning guidelines (Ministry of Housing and Lands Design Guidance and Planning Policy Guidance (PPG)) as established by the local authorities Phase II of Aurea - Living Harmony The Residential Development A vibrant mix of plot sizes has been catered for the residential plots based on the market survey expectations and also on the site topography. The table below summarises the different plot areas and the price range for each band: Aurea - Bois de Natte (Gated) Plot Size (Toises) No. of Plots Price Range per plot payable by OC holders (Rs) excluding DW/W/GT/GR Price Range per plot payable by OC holders (Rs) including DW/W/GT/GR 112 to less than 130 toises 9 Rs 2,052,000 to Rs 2,438,000 Rs 2,876,000 to Rs 3,005, to less than 140 toises 4 Rs 2,443,000 to Rs 2,492,000 Rs 2,661,000 to Rs 2,718, to less than 150 toises 25 Rs 2,648,000 to Rs 2,716,000 Rs 3,264,000 to Rs 2,948, to less than 160 toises 52 Rs 2,746,000 to Rs 2,933,000 Rs 2,985,000 to Rs 3,387, to less than 170 toises 29 Rs 3,025,000 to Rs 3,082,000 Rs 3,673,000 to Rs 3,561, to less than 180 toises 15 Rs 3,224,000 to Rs 3,388,000 Rs 3,883,000 to Rs 4,024, to less than 200 toises 15 Rs 3,276,000 to Rs 3,515,000 Rs 3,508,000 to Rs 4,128, to less than 250 toises 7 Rs 3,669,000 to Rs 4,687,000 Rs 4,095,000 to Rs 5,799, to less than 300 toises 4 Rs 4,238,000 to Rs 4,762,000 Rs 4,497,000 to Rs 5,021, to less than 400 toises 6 Rs 5,169,000 to Rs 6,296,000 RS 5,486,000 to Rs 7,395, to less than 500 toises 3 Rs 7,027,000 to Rs 7,617,000 Rs 7,542,000 to Rs 8,136, to less than 900 toises 3 Rs 9,982,000 to Rs 13,684,000 Rs 10,633,000 to Rs 13,684,000 Aurea - Light Industrial Plot Size (Toises) No. of Plots Price Range per plot payable by OC holders (Rs) excluding DW/W/GT/GR 826 to less than 1100 toises 2 Rs 11,887,000 to Rs 15,812, toises 1 Rs 31,021, Light Industrial A light industrial area comprising of 5 plots is proposed in the north-western part of the site with easy visibility and accessibility to the Trianon-Verdun-Terre Rouge Motorway. This component will allow activities that are non-polluting and compatible with residential development. This component is segregated from the residential plots by a buffer of a minimum width of 15 metres

10 3.5.2 Phase III of Aurea - Living Harmony The Residential Development Duplex Housing Units and the low rise and low density apartment blocks will be launched in the third phase of the development, which is tentatively scheduled for December Blocks of Duplex Housing Units (DHUs) comprising of ground plus one floor in the northern part and southern part of the project area will be developed with unit sizes ranging from 200 to 250 square metres. Blocks of low rise and low density apartments of sizes varying between 150 and 250 square metres will be developed to create a more active Urban Centre Convenient Commercial / Leisure / Restaurant Component The convenient commercial component adjacent to the leisure facility covers a total project area of 4 Arp (1.6Ha). The commercial precinct consists of a vibrant mix of land uses including, shops, cafes, convenient stores/superette, restaurants, social clubs, etc to bring urban vitality and street life into the heart of the development. Major public avenues and transport modes have been integrated within the design of this component to allow public accessibility. This commercial block together with an area dedicated for restaurants will be at the heart of the Urban Park and Urban Square area and will also blend with leisure facility and the landscaped river banks. Residents from Bois de Chandelle can also easily converge to this central area through a pedestrian bridge that will cut across River Terre Rouge

11 3.5.3 Educational Component The development also provides for a school site of an extent of 2.4 Arp (1Ha) at the south-eastern end of Aurea- Bois d Ebene, in a quiet and low trafficable area thus opening up opportunities for primary/secondary/tertiary education. Provision will also be made for a football pitch on this site Recreational Component and Public Space Areas An area of 2.4 Arp (1.0 Ha) has been allocated within the Urban Centre, annexed to the main commercial component, for the creation of a major recreational and leisure centre. The latter could accommodate a gym, swimming pool, badminton courts, spa, yoga, taebo and dance classes etc and any other recreational activities which are of popular demand. The landscaped public places, covered with lawn and accommodating lush garden sitting furniture also open up opportunities for various outdoor recreational facilities. These include: A jogging track around the centre park area and central corridor A cycle track of 1.2 km around the Urban Centre A public park along River Terre Rouge over a stretch of 400 metres A central green corridor of about 30 metres wide from Cote d Or Road to the Urban Park over a stretch of 700 metres Children s play spaces and passive open spaces within the residential areas The total area of planned open public spaces amounts to 15.0 Arp (5.2 Ha) - i.e. 5.4% of total project area. The Urban Square and the Urban Park which are regarded as an extension of the commercial area will be managed by the Syndicate of the Commercial Precinct Gateways There are three principal gateways to the development. The first one is along the dual carriageway boulevard bordered with royal palm trees at the northern site boundary and leads directly to the urban centre of the development. The second gateway lies at the south-eastern corner of Aurea- Bois d Ebene and marks access to the development both from the east and the south. The third gateway lies at the south-western end of Aurea- Bois de Chandelle and is a major link to Highlands. The gateways are to be designed as prominent architectural features to give a landmark sense of identity to the development

12 3.5.6 Urban Vistas There are a number of urban vistas within the development which help to draw people towards its centre. Within the site, major road arteries defining the urban centre have been set out to create visually dynamic urban vistas. A major pedestrian axis also runs through the residential areas of Aurea- Bois d Ebene towards the urban centre. The skyline and architectural quality of the buildings in the centre of the development is to be designed to reflect this emphasis upon the centre Urban Square An informal urban square is situated within the commercial/leisure centre at the heart of the masterplan. The square is surrounded by a mix of land uses low density apartment and duplex blocks, which add urban vitality and street life to it. A main boulevard leads directly from the site entrance at the northern boundary between Aurea - Bois d Ebene and Aurea - Bois de Natte into the square. Riverside Walk along River Terre Rouge The urban square opens onto a riverside walk along part of River Terre Rouge fronting the latter over 400 metres of continuous lush green park, the neighbouring apartment blocks and an area of the commercial component. This riverside frontage will be terraced and landscaped as it descends towards the river to create a public area for general public enjoyment. The river edge will be developed as a nature conservation corridor with trails and boardwalks and picnic areas. Open Green Spaces along Rivulet Francois Rivulet Francois crosses the urban square, a land use area dedicated to apartments and an area consisting of individual residential plots towards the eastern end of the masterplan. The rivulet has been expressed as an open, green, public corridor around 30 metres wide as it passes through these various areas. Within the residential areas with individual plots, additional recreational spaces in the form of green parks, public lawns with aesthetic sitting furniture, children s play area, sports pitches, etc have been included along the course of the rivulet

13 4.0 MAURICE ILE DURABLE / SUSTAINABLE VISION The intention is to develop a climatically responsive design which adapts to the local context without being stylistically specific, but rather informed by current technological and sustainability paradigms. SPDL has invested much in resources and time to develop a sustainable and innovative integrated and mixed use property development programme on 259 Arpents of Land at Cote d Or, Highlands. The vision is to encourage a sustainable development model in line with the government initiative Maurice Ile Durable (MID) to promote an eco-friendly environment. The project includes a mixed use development including a mixed size individual residential plots, residential and commercial complexes as well as light industrial, educational and leisure activities. The objective is to create an exclusive development that would provide a sustainable living environment for a modern Mauritius. In adopting a sustainable design, SPDL is broadening the opportunities of a sustainable design concept to be implemented on this strategic piece of land. 4.1 ENERGY & RESOURCE EFFICIENCY The concept of energy and resource efficiency for the scheme has been developed in line with the environmental principles. The approach undertaken in the masterplan has been to exploit the natural potential of the site as outlined below: Existing natural watercourses as River Terre Rouge and Rivulet Francois and parts of the man-made canalisation system have been preserved and their reserves respected. Developments to these areas are to be carried out in a sustainable manner with a minimal impact on the environment. Natural day lighting to buildings should be encouraged and maximised to reduce the need for artificial lighting and, wherever possible, building design should use passive means to control solar gain and minimise the need for mechanical systems for cooling. The development caters for 100% solar street lighting Efforts shall be made wherever possible to design buildings to harness the natural potential of the wind for ventilation, through thoughtful positioning and orientation. Rainwater Harvesting will be encouraged to enable surface rain water to be collected, stored and re-used for domestic purposes, thus reducing the need for drainage infrastructure. Attractive provisions in the form of spacious pedestrian walkways and cycle tracks in lush green settings have been incorporated in the design of the urban environment to encourage people to walk and cycle and be less dependent on vehicles. 4.2 UNDERGROUND UTILITY SERVICES This exclusive development would be built with modern and high quality infrastructure (with underground utility services inclusive of electricity, sewerage and state-of-the-art telecommunication services with provisions for fibre-optics) blending into continuous lush green spaces and providing the right mix and integration of land uses in tune with the aspirations of one and all with a special thought to the new generation

14 5.0 PRICING RATIONALE AND PAYMENT SCHEDULE The pricing has taken into consideration the high investment costs in the state-of-the-art infrastructure with the overriding view to enhance and appreciate the property at all times: 1. Extensive road networks, road reserves, drains, footpaths and cycle tracks etc 2. Underground utility services - electricity, sewerage, water, telecommunication (with option for fibre optics) 3. Bridges across River Terre Rouge for easy connection to Trianon-Verdun-Terre Rouge Motorway and easy linkages of the two blocks separated by this river with one pedestrian foot bridge 4. Setting up of a green corridor 30 metres wide linking the Urban Square and the Urban Park 5. Solar street lightings and lightings in green spaces 6. Cleaning and maintenance of the river reserves Prospective buyers should take note that the price of the plot does not include any other charges except as may be expressly stated in this Information Pack. Therefore, any other related charges for the acquisition of the plots shall be borne by the prospective buyers. As such, the price of the plot does not include the notary fees, registration fees and any other fees / charges related to land acquisition and fees, commissions, charges or accessories payable to financing institutions for loans, advances on deposits and these charges shall be borne by the prospective buyer. Land Surveying services relating to plots however, shall be offered free of charge by SPDL. Buyers will need to pay registration duty at the prevailing rate as set out by the Land Duties and Taxes Act and the Registration Duty Act and this is currently at 5%. It is pointed out that first time buyers of residential property will be exempted for registration duty on the first Rs 750,000 (under the terms & conditions set out under the above Act) of the price and they will pay registration duty of 5% on the balance. However the registration duty is payable at the time of signature of deed of sale and the prevailing basis and rate at that point in time shall be applicable. Details regarding the extent of each plot and the corresponding price are given in Part III of this Information Pack, for both Option Certificate Holders and Non- Option Certificate Holders. The updated morcellement plan and information with regards to the area of each plot and the price is also available at: SIT Office, Ground floor, NG Tower, Cybercity, Ebene It is to be observed that the prices as given in Part III of the Information Pack is fixed for a period of 2 months ending 28 th September SPDL reserves the right to revise the prices of the plots in Aurea Living Harmony and the payment schedule for any reservation for a plot in the development made after 28 th September

15 5.1 PAYMENT TERMS The payment will be in deposit installments payable as follows: On the day of reservation: Rs 50,000 per plot. 40% of the price of plot is payable within 2 months from date of Letter of Award at latest by 28 th September % of the price of plot is payable within 6 months from date of Letter of Award at latest by 25 th January The outstanding balance is payable on signature of deed after obtaining the final Morcellement Permit from the Morcellement Board. SPDL will send a letter to all buyers to inform them of the cut-off date by which the deed should be finalised and signed. Except for unforeseen circumstances beyond our control, tentatively, we expect the Permit to be received by October 2013 and buyers will be called to sign their deed by November 2013, subject to all relevant and necessary permits being obtained as scheduled. 5.2 FINANCING FACILITIES In order to facilitate prospective buyers to benefit from a competitive financing, SPDL has approached several banking and financial institutions to propose tailor-made financing schemes specific to the nature of this project and clientele profile. However, SPDL will bear no responsibility whatsoever in respect to the above financing schemes or for the guarantee of any loan contracted or to be contracted by any person in respect of a reservation of a plot of land in the Aurea Living Harmony development nor will it be liable in whatever manner for any transaction undertaken between any person and the bank/financing institutions unless a formal written agreement is executed by the company (SPDL) in that respect. Contact details of these institutions are provided on the following page: 23 24

16 BANKS /Financial Institutions State Insurance Company of Mauritius Ltd (SICOM) State Bank of Mauritius Ltd (SBM) Address Company Phone/Fax Number Sir Celicourt Antelme Street Port Louis T: F: Corporate Office SBM TOWER 1, Queen Elizabeth II Avenue Port Louis T: F: Website Contact person Title Direct Lines/ Mobile sicom.mu Nazir Fadarkhan Assitant Manager - Loans nazir@sicom.intnet.mu sbmonline.com Suryadeo Gooroovadoo Ajit Mewasingh Personal Banker (Rose Hill SU) Head of Private Banking suryadeo.gooroovadoo@sbmgroup.mu ajit.mewasingh@sbmgroup.mu Arti Lutchmah Personal Banker (Vacoas SU) arti.lutchmah@sbmgroup.mu Percy Philips Head of Mobile Sales percy.philips@sbmgroup.mu Mauritius Post and Cooperative Bank Ltd (MPCB) Head Office 1, Sir William Newton Street Port Louis T: F: mpcb.mu Nemdharry Lata Shaik Raman Aissa lata.nemdharry@mpcb.mu aissa.sraman@mpcb.mu Sreemantoo Vishal Vishal.sreemantoo@mpcb.mu Tang Sip Shiong Mary Jane maryjane.tang@mpcb.mu Mauritius Housing Company Ltd (MHC) Head Office MHC Building Révérend Jean Lebrun street P.O Box 478 Port Louis T: F: mhc.mu Seth Anand Sookhee A Ruchchan M Islam Head Commercial BU Assistant Manager Branch Curepipe Assistant Manager Branch Flacq / s.a.sookhee@mhc.mu a.ruchchan@mhc.mu m.islam@mhc.mu C Lutchmoodoo Assistant Manager Branch Goodlands c.lutchmoodoo@mhc.mu B Ramdhanee Assistant Manager Branch Bambous b.ramdhanee@mhc.mu 25 26

17 6.0 PROCEDURES FOR APPLICATION FOR RESERVATION OF PLOT(S) Our Option Certificate Holders have consistently shown good appreciation for the procedures that have been adopted for the reservation exercise in our latest morcellement projects as well as in the Phase I of Aurea - Living Harmony and the Company believes that the system is fair, reliable and transparent and gives opportunities to one and all to participate in the process. The Company sent in a first correspondence, a pack of documents with details of all matters mentioned before (summarized hereafter) to OC holders together with Application Form(s) for Ranking where the prospective buyer shows his/her intention to participate in this land sale. List of Documents sent in first correspondence: Letter addressed by CEO to Option Certificate Holders Schedule for site visit Salient features on procedures for application Documents to be produced at the time of reservation Application Form(s) for Ranking Price list for respective plots in AUREA Bois de Natte & Aurea - Light Industrial (LI1, LI2, LI5) AUREA Bois de Natte & Aurea - Light Industrial layout plan This first set of documents was sent well in advance for the prospective buyer to study the project at his leisure and make clear and informed decision on his course of action. The Mauritius Turf Club (MTC) then carries out a draw in the most transparent manner under the supervision of a Court Usher to allocate rank(s) to each applicant through his/her Application Form(s) for Ranking. Thereafter, the applicant is invited to register his/her reservation of one or more plot(s) based on the rank(s) allocated by draw and valid Options Certificates he/she holds. On the date of reservation, a onestop-shop is organised where designated notaries and financing institutions are present under one roof with SIT Officers so that the prospective buyer can seek and get all the necessary information before deciding on his/her action. 6.1 APPLICATION FOR PLOT(S) IN AUREA - BOIS DE NATTE & LIGHT INDUSTRIAL BY OC HOLDERS AND NON OC HOLDERS The offer for sale of the land at Aurea will be made as follows: Exclusively to Option Certificate holders (as per rank allocated): as from 30 th July 2012 to 2 nd August 2012 Members of the Public and Option Certificate holders as well: as from 3 rd August 2012 After reservation of plot(s) exclusively for OC holders are closed on 2 nd August 2012 altogether, and if plots remain, they shall be offered to non - OC holders (the general public) as well as to OC holders on a First Come and First Serve basis as from 3 rd August A notice will be served in the general press for that purpose. Holders of Option Certificates will benefit from a discount of Rs 15,000 on the purchase price of each plot of land for which a valid Option Certificate is exercised

18 6.2 RANKING OF APPLICATIONS The Company has sent to each OC holder through post, a pack of documents (as summarised in section 6.0 of this document) containing details and layout plan of the morcellement as well as Application Form(s) for Ranking that the OC holder need to fill in and send to SIT Head Office at Ebene or to the Site Office to show his/her intention to participate in this landsale. The following steps have been and will be followed: Step 1 Submission of Application Form(s) for Ranking by applicants/prospective buyers to SIT Head Office at Ebene through registered post or hand delivered to SIT Site Office at Cote d Or at latest by 14:00 Hrs on 24 th July Forms received after the closing date and time; (i.e. after 14:00 Hrs on 24 th July 2012), will not be considered. Step 2 SPDL will allocate a Serial Number to each Ranking Form received from the OC holder to participate in the draw at MTC; this Serial Number is actually allocated to facilitate the drawing of lots exercise. Step 3 The Application Form(s) for Ranking Number as well as the Serial Number allocated to each Ranking Form will be affixed at the SIT office and on the website ( on 24 th July 2012 prior to the Draw. Step 4 Draw at the MTC will be carried out on 25 th July 2012 as from a.m. in the most independent and transparent manner in the presence of a Court Usher from the Supreme Court (Applicants / OC holders are also invited to attend). Step 5 The rank allocated by draw to each Application Form(s) for Ranking will be affixed at the SIT office on 25 th July 2012 and will be communicated to the OC holder by registered post. Step 6 The OC holder would be called to register his/her reservation of plot(s) at SIT office at a particular date and time, which will be communicated through registered post, in order of the rank allocated to him/ her as a result of the draw. If an applicant is not present when the rank allotted to him/her is called, then the applicant holding the next rank will be called and so on and so forth. If the applicant who is not present at the time his/her number is called turns up later during the day, his/her reservation will be registered after completion of the reservation being processed at the time of his/her entry. The Option Certificate holder should bring along the official letter informing him/her of his/her rank as evidence and his/her original national identity card. The applicant who fails to register his /her reservation on the day when he/she has been called to do so, will be called to register his/her application if plot(s) remain after all applications that have been allocated a rank by draw have been processed. Step 7 A Contrat de Reservation will be signed for each plot reserved after registration of reservation

19 7.0 USE OF OPTION CERTIFICATE Option Certificates are traded on the Development and Enterprise Market (DEM). It is brought to the attention of the OC holders that trading of OC will be suspended as from 24 th July 2012 to 2 nd August 2012 inclusive. The applicant should bring valid Option Certificate(s) or a CDS Statement(s) of Account(s) on the date of registration of reservation. One valid Option Certificate can be exercised to reserve 1 plot only (irrespective of plot size). For each OC exercised to reserve one plot, the OC holder will benefit from a discount of Rs 15,000. Once the OC has been used and a Letter of Award issued, the OC will be cancelled automatically by the company and cannot be used again for any other reservation. It is to be noted that (a) The Company does not guarantee that each Option Certificate holder who has submitted an Application Form(s) for Ranking will get a plot of land in this land sale. (b) By filling an Application Form(s) for Ranking and sending it to the Company, the applicant only shows his/her intention to reserve one or more plot(s) of land in this land sale and may decide not to proceed further with the reservation of any plot(s) of land afterwards. However, if the applicant applies for the reservation of land after the draw and reserves plot(s), he/she will have to complete the purchase of land in accordance with all the terms and conditions of the Information Pack. (c) It is brought to the attention of the OC holder that each Application Form for Ranking will allow the OC holder to reserve either 1 or 2 or a maximum of 3 plots based on the number of equivalent and valid Option Certificates held. For example, if an OC holder is willing to purchase 10 plots and has 10 valid Option Certificates, he will have to fill in 4 Application Forms for Ranking and he will be allocated 4 ranks, each rank allowing the applicant to apply for less and up to a maximum of 3 plots. Application Forms for Ranking have been mailed to OC holders based on the number of valid Option Certificates as at 21 st June

20 8.0 COMPLETION OF SALE 9.0 OTHER TERMS AND CONDITIONS Successful applicants will be required to produce Letter(s) of Award together with the required documents to the notary for finalisation of the deed of sale and a statement from SPDL showing the price of plot, deposit paid to date and amount of outstanding balance. Applicants will be required to complete the deed of sale around November The date is tentative as the exact date of completion of infrastructural works and issue of Morcellement Permit cannot be ascertained at this stage as it may be subject to unforeseen events as bad weather. Applicants will be informed in writing of the cut-off date for completion of sale upon obtaining the Morcellement Permit from the Morcellement Board. 9.1 Each valid Option Certificate gives the holder the right to apply for one plot only. 9.2 The Company reserves the right to reject any application in case there are any irregularities in the information given and/ or documents submitted by the applicant. 9.3 An Option Certificate may be used only once for a reservation of a plot and cannot be used again in another application(s) for the present and future exercise. The Company will proceed with the automatic cancellation of the Option Certificate once the application is registered and Letter of Award issued. 9.4 In the event that plots remain for sale after being offered to Option Certificate Holders or if for any reason a successful applicant fails to complete the purchase of plot(s) of land, SPDL shall be free to dispose of the plot(s) in such manner, on such terms as SPDL in its sole discretion may think fit. 9.5 All requested documents should be submitted at the time of registration of reservation of plot(s). SPDL may reject any incomplete application. 9.6 Applications may only be made by persons above 18 years old and of sound mind. However, a parent or guardian of a child below 18 years old may apply for the benefit of the minor. An OC holder can be represented by another person above 18 years old and of sound mind and the OC holder should authorize him/her to do so through a form AUTHORISATION FOR PROXY TO UNDERTAKE RESERVATION OF PLOT(S) or through a duly registered power of attorney drawn up by a notary and the proxy should submit his/her Identity Card at the time of registration. However, to be able to use a proxy to sign the Contrat de Réservation and eventually the deed of purchase of plot(s), the applicant should submit a registered Power of Attorney drawn by a notary. The Letter of Award will be drawn up in the name of the applicant and not the proxy. 9.7 Applicants should note that the Letter of Award is final and binding and that no claim whatsoever will be entertained thereafter. 9.8 Applicants are strongly advised to carry out a site visit before reservation. We wish to point out that infrastructure works have already started since 2 nd May

21 9.0 OTHER TERMS AND CONDITIONS (continued) 9.9 Variations in extent of land. Applicants are hereby informed that this exercise is for reservation of plots of land only. The extent, form, size and shape of the plot(s) selected or reserved at this stage may be subject to changes during the execution of the Infrastructural Works. SPDL shall not be liable in any case if such changes were deemed necessary due to site conditions, statutory requirements by any authority or service providers, changes in national policies and strategies or any other reason whatsoever. The final extent shall be determined as per the final as - made plan as approved by the Morcellement Board after infrastructural works have been completed. Any discrepancy in extent within a range of 5% of the original extent will not entail any change in the price of the plot as per the Letter of Award. In the event of any discrepancy in extent which is greater than 5% of the original extent, the price of the plot will be adjusted based on the final extent and the client will be informed of the new extent and adjusted price of the plot prior to the signature of the deed of sale with the notary. In the event that the discrepancy in extent is greater than 5% of the original extent and causes prejudice to the client, the client may request SPDL to cancel the reservation of the plot concerned. In such case, SPDL will refund within a period of two months the whole deposit amount paid by the client as at that date without any interest or any claim whatsoever The Infrastructural Works are expected to be completed around October 2013 (non-contractual dates) after which the Morcellement Permit is expected to be issued. Finalisation of deed of sale will be made only after the issue of the Morcellement Permit by the Morcellement Board, Ministry of Housing and Lands. SPDL will inform all buyers of the cutoff date (tentatively November 2013) by which all outstanding payments as well as the signature of deed should be completed Once a Letter of Award is issued upon the reservation of a plot of land, the Option Certificate used for that reservation is automatically cancelled and cannot be used again It is to be observed that the prices as given in Part III of the Information Pack is fixed for a period of 2 months ending 28 th September SPDL reserves the right to revise the prices of the plots in Aurea Bois de Natte & Aurea - Light Industrial and the payment schedule for any reservation for a plot in the development made after 28 th September Transfer Request for Transfer will be treated on a case to case basis and will generally be on the following terms: Transfer between: Parents and children Brothers and sisters; The Transferor (and spouse in case of civil marriage under the legal community of goods regime) should make an application for transfer on SPDL s prescribed Transfer Form available at the SIT office and submit documentary evidence for blood relationships for processing of application for transfer of reservation. The company will consider the request and once approved, will issue a new Letter of Award in the name of the transferee(s) Transfer into Société/Company Applications for such transfer may be considered by SPDL where the applicant is a majority shareholder in the Société/Company For any request for transfer, the transferor (including spouse of transferor in case of marriage under legal community of goods regime) must sign the Transfer Form accepting that any sum paid to SPDL as deposit shall be retained by SPDL and any outstanding balance shall be paid by the transferee(s). SPDL will not enter into any arrangements between the transferor(s) and transferee(s) regarding any previous amount paid as deposit/installments Guidelines Cahier des Charges Aurea - Bois de Natte is governed by specific Cahier des Charges as detailed in Part II Section 12 of this document. Prospective purchasers of plots of land in the Morcellement are advised to read the guidelines applicable to the overall development as well as specific guidelines where he/she intends to reserve plot(s) prior to making any reservation. SPDL shall not entertain any representations regarding failure or ignorance on the part of the client to take cognizance of the Cahier des Charges referred to above after the reservation. It is brought to the attention of prospective buyers that the above mentioned guidelines shall be incorporated in the title deeds Representations in respect of boundary stones Client will be invited to visit the site and take cognizance of the plot boundary limit and boundary stones prior to signature of deed of sale; the client should attend within 3 days of the notice, otherwise it would be presumed that he/she accepts and he/she would not delay final payments and finalisation of deed/ transfer of land. After finalisation of deeds of sale, clients will be given a period of one month to report any problem regarding delimitations of their respective plots. Any problem as regards boundary limits should be reported within this time line and no request/complaints would be entertained after this period Second request for transfer for same plot will not be entertained 35 36

22 9.0 OTHER TERMS AND CONDITIONS (continued) 9.16 Contrat de Réservation and Deed of Sale with Notaries SPDL has appointed a team of notaries designated for this project and clients will have to work with a notary within this team. The objective of SPDL is to ensure a good service to the client and a good coordination and follow up between clients, banks and notaries to ensure a good communication and timely finalisation of signature of deeds of sale and payments to the satisfaction of all. A Contrat de Réservation will be prepared by the designated notaries and the client will be called upon to sign this document upon reservation of plot(s) and again take note of salient conditions as per the EIA licence and Letter of Intent from the Morcellement Board as well as the Cahier des Charges set by SPDL. When SPDL will receive the Morcellement Permit from the Morcellement Board, the company will inform all buyers of the documents to be submitted to the designated notary as well as the dates scheduled for the signature of the deed and payment of the outstanding balance and assume ownership of plot(s) DELAYS IN PAYMENT - CANCELLATION POLICY AND INTEREST IMPLICATION All clients should effect payment of installments as per schedule of payment detailed in Section 5.1 and finalise their deed of sale within the time frame as per the deadline that will be communicated to them by SPDL. Clients who wish to annul their reservations on voluntary grounds, must confirm same in writing to SPDL prior to deadline set for payment of installments as set out in this Information Pack (section: 5.1) and the Letter of Award. SPDL will thereafter serve a letter of cancellation to the client confirming acceptance of request. The client will then forfeit the initial deposit of Rs50,000 and any other additional deposit above the initial deposit of Rs50,000 paid will be returned to the client only after SPDL has put the plot back on sale and the plot has been reserved by another client and more than equivalent amount of the deposit that needs to be refunded is received by SPDL from the new client. Any delays to pay SPDL as per agreed schedule and to attend to Notaries and SPDL requests would be accompanied by an interest amount at the rate of 2% above Prime Lending Rate (PLR) (the PLR basis would be the average prevailing PLR of SPDL s bankers - SBM and MPCB) per annum payable on the outstanding balance for the respective plot(s) acquired for a maximum period of 2 months. Should the client fail to complete payment, inclusive of the interest, within the specified maximum of 2 months, SPDL shall cause a notice to be served on the client and a final time limit of 14 days will be given to complete same inclusive of interest, failing which the reservation shall be cancelled without further notice and SPDL shall be free to dispose of the plot of land as it shall deem fit. In this event, the initial deposit of Rs 50,000 paid by the client shall be forfeited and any additional deposit paid above the initial deposit of Rs 50,000 will be returned to the client only after SPDL has put the plot back on sale and the plot has been reserved by another client and more than equivalent amount of the deposit that needs to be refunded is received by SPDL from the new client Delays beyond SPDL s control If ever there are delays (a) because of any additional or amended requirements of authorities and service providers (b) in obtaining permits/clearances from relevant authorities (c) with respect to issues beyond the control of SPDL, SPDL will inform the client through a letter of such delays and the new deadlines for finalization of the deed of purchase of plot(s) and payment of the remaining balance. The new deadline will be binding upon the client and SPDL shall in no circumstances be liable for any inconveniences, prejudices or damages, whether foreseen or unforeseen, that may arise as a result of such delays